Business Intelligence and Statistics

BI and Statistical Project Ideas

Does your company have data that needs to be organized or interpreted? Are you trying to extract meaning from the large amounts of information that you have? Are you curious about how your business has been performing? Would you like to build some predictive models for your organization? Call me or email me about your statistics-related problem, and I’ll see if I can help you solve it. Here are a few ideas of statistics projects I can do (for more information on that subject, click on the name of the model):

  • Direct Response Modeling : Most companies have some form of advertising, and it can sometimes be costly to advertise to people if they are not going to respond and purchase something from you. If you have customer data, I can help you predict which customers will be the most likely to respond to advertising. For example, some company may sell electronics, and they send out a catalog every month to previous customers in hopes that these customers will then buy. This company may also have data about these customers (for example, age, sex, purchase history, income, …). What I could then do is analyze that data (using statistics) to try to predict which customers respond to advertising and which customers do not (for example, maybe customers in the age group of 25-34 respond highly, and those with incomes greater than 70,000). Then, you can focus your advertising to these people. Alternatively, maybe I would find that customers over age 60 tend to not buy, and then you could save advertising money by not sending these customers a pamphlet.
  • Customer Analytics : Depending on the amount of customer data you have available, I can run some clustering algorithms to try to classify these customers into several main groups. For example, do you have a broad business that markets to different market segments? Would it be helpful to understand which customers are focused more on a specific product category?
  • Linear Regression : This is used to predict some unknown variable. A typical example may be the average sales to some particular customer based on several other variables: average sales in the past, male vs. female, age, etc.
  • A/B Testing : This is a common method for optimizing your marketing strategies. For example, suppose you send out an email every week. Could you be doing better by redesigning this email (by changing its layout, subject line, landing page, etc.)? I can help you implement a testing strategy to gain long-term learnings to optimize open rate, click-thru rate, conversion rate, revenue per customer, margin per customer, etc. Also, with these kinds of tests, it’s crucial to understand what kind of population size you’ll need for the test, and I can help you in calculating this value.
  • Forecasting : This statistical model can be used for predicting just about any variable over time. It can account for seasonal trends as well as growth over time. So, a common example would be to predict demand for a certain product in the next few months.
  • Web Design : I also enjoy designing websites, so contact me if you need a site designed. I built this site, and I can point you to some other examples of my work.
  • Anything Else : Do you have other ideas, or ways you would like your data analyzed? Contact me, and we can discuss methods for solving your problems!

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